Economy Shop
- Assets
- $337.2k
- Revenue
- $284.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Oak Park, IL
- Founding
- 12/1945
- Data as of
- 06/2022
- EIN
- 36-2177156
Organization Overview
Economy Shop is located in Oak Park, IL. The organization was established in 1945. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Economy Shop employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economy Shop is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Economy Shop generated $284.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $281.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Economy Shop has awarded 34 individual grants totaling $562,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMY SHOP SELLS DONATED CLOTHING AND OTHER HOUSEHOLD ITEMS TO THE GENERAL PUBLIC AND UTILIZES THE FUNDS RAISED TO SUPPORT LOCAL CHARITABLE ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMY SHOP SELLS DONATED CLOTHING AND OTHER HOUSEHOLD ITEMS TO THE GENERAL PUBLIC AND UTILIZES THE FUNDS RAISED TO SUPPORT LOCAL CHARITABLE ORGANIZATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Brooks Operations D | OfficerTrustee | 30 | $37,370 |
Mary Ann Schott Treasurer | OfficerTrustee | 8 | $0 |
Tammy Grayson VP - Merchan | OfficerTrustee | 8 | $0 |
Lisa Sorensen President | OfficerTrustee | 8 | $0 |
Alicia Mcnamara VP - Volunte | OfficerTrustee | 8 | $0 |
Mary Rogers VP - House & | OfficerTrustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,434 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,434 |
| Total Program Service Revenue | $0 |
| Investment income | $126 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $264,776 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $284,336 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $84,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $37,370 |
| Compensation of current officers, directors, key employees. | $13,079 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,105 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,634 |
| Insurance | $21,833 |
| All other expenses | $0 |
| Total functional expenses | $280,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $141,844 |
| Savings and temporary cash investments | $144,707 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $50,651 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $337,202 |
| Accounts payable and accrued expenses | $22 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22 |
| Net assets without donor restrictions | $337,180 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $337,202 |
Grants Awarded
Over the last fiscal year, Economy Shop has awarded $84,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Oak Park, IL | | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gift Clearing Trust Indianapolis, IN | $47,036,280 | $91,256,862 |
Sojourner Foundation Inc Milwaukee, WI | $5,493,853 | $4,205,530 |
Bloomington-Normal Ymca Charitable Foundation Nfp Bloomington, IL | $12,002,532 | $7,012,515 |
Moose Foundation Inc Mooseheart, IL | $261,014,797 | $19,670,612 |
Upic Solutions Inc Fort Mitchell, KY | $2,371,554 | $6,046,013 |
West Bend Community Foundation Inc Milwaukee, WI | $79,149,428 | $10,575,689 |
Glasser And Rosenthal Family Foundation Chicago, IL | $0 | $604,291 |
Arthur Dean Family Foundation Inc Fishers, IN | $75,273,545 | $2,866,490 |
Real Estate Charitable Foundation Kansas City, MO | $43,935,265 | $4,204,580 |
Barbara Mettler Personal Tr Champaign, IL | $0 | $38,620 |
Friends Of Penfield Childrens Center Inc Milwaukee, WI | $8,290,252 | $2,579,522 |
Shure Charitable Tr Created Uw Of Sidney N Shure Chicago, IL | $52,599,907 | $2,093,307 |